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Added on the 27/10/2022 16:08:24 - Copyright : AFPTV - First images
Inflation in the Eurozone will "last longer than originally expected" but decline over the course of 2022, as energy price rises and bottlenecks ease, says ECB President Christine Lagarde. SOUNDBITE
European Central Bank president Christine Lagarde announces that ECB decided to raise its inflation forecasts, with consumer price growth now seen reaching 8.4 percent for 2022 before easing slightly to 6.3 percent next year. By 2024, inflation should average 3.4 percent before reaching 2.3 percent in 2025. SOUNDBITE
The European Central Bank President, Christine Lagarde, warns governments against adding to their public debt, as they look to ease the pressure on households and businesses from soaring energy costs. "Governments should pursue fiscal policies that show they are committed to gradually bringing down high public debt ratios," she says during a news conference, adding that policymakers should pick measures that are "temporary and targeted at the most vulnerable". SOUNDBITE
The European Central Bank unleashes another jumbo interest rate hike on the eurozone in an effort to combat record-high inflation, which has soared towards 10 per cent, and bring rising prices under control. The decision has been made despite concerns mounting over a darkening economic outlook. "With this third major policy rate increase in a row" says Christine Lagarde, ECB President, "we have made substantial progress in withdrawing monetary policy accommodation." SOUNDBITE
The European Central Bank slashes its growth outlook for the eurozone to 2.8 percent in 2022 and 2.1 percent in 2023, as Russia's invasion of Ukraine wreaks havoc on the world economy. SOUNDBITE
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